Home equity · Connecticut
HELOCs in Connecticut
Use your equity without touching your first mortgage. The loan you already have, and its rate, stay exactly where they are.
A home equity line of credit sits behind your existing loan as a separate lien. Draw what you need for a renovation, debt payoff or the next property, and pay interest only on what you use.
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4.9
Average Google rating
450+
Google reviews
Since 1998
Family-owned, Connecticut direct lender
NMLS #2801
Licensed in Connecticut
At a glance
Flexible access to your equity
Keep your first mortgage
Your existing loan and its rate stay untouched.
Pay on what you use
Interest only on the amount you actually draw.
5–10 year draw
Then a 10–20 year repayment period.
15–20% equity left
What most lenders want remaining after the line.
3–4 weeks to close
Underwritten in-house, no third-party delays.
Fixed-rate options
Fixed-rate and first-lien HELOCs are available too.
The math
How much can you access?
Take your home's value times the maximum combined loan-to-value, then subtract what you owe.
We look at your current balance, your home's value and the maximum combined loan-to-value for your program, often with an appraisal.
Example
Illustration only, not a commitment to lend.
How it works
Four steps to an open line
01
Equity check
Balance, value and maximum combined loan-to-value.
02
Application
Income, credit and often an appraisal, all in-house.
03
Terms, explained
Draw and repayment periods, rate and payment scenarios. No buried terms.
04
Close and draw
Most close in 3 to 4 weeks. Draw by check, transfer or linked account.
Local
For Connecticut homeowners who locked in low
If you locked in a low rate on your first mortgage, a cash-out refinance would replace the whole loan at today's pricing. A HELOC leaves it alone. We run both scenarios for every homeowner, from Fairfield County to the Quiet Corner.
FAQ
HELOC questions
How much equity do I need for a HELOC in Connecticut?
Most lenders want you to keep at least 15–20% equity after the line. On a $500,000 home with $300,000 owed and an 85% maximum combined loan-to-value, you could access up to $125,000.
Will a HELOC change my first mortgage?
No. A HELOC is a separate lien behind your first mortgage, so your original loan and its rate stay as they are.
HELOC or cash-out refinance?
If your current rate is low, a HELOC keeps it. A cash-out refinance replaces your whole mortgage at today's rates, which can make sense if your rate is already high. We run both.
What's the difference between a HELOC and a home equity loan?
A home equity loan is a lump sum with fixed payments. A HELOC is a revolving line you draw from as needed, typically at a variable rate.
How long are the draw and repayment periods?
The draw period is typically 5 to 10 years, followed by a 10 to 20 year repayment period.
How long does a HELOC take to close?
We close most HELOCs in 3 to 4 weeks, with underwriting handled in-house.
Can I use a HELOC to buy an investment property?
Yes. Homeowners use HELOCs for rental property down payments, renovations, debt consolidation, education and emergencies.
Use your equity. Keep your rate.
Not a commitment to lend. HELOC rates are typically variable and can change. Programs, terms and eligibility are subject to change and to credit, property and underwriting approval. AFC Mortgage Group, LLC | NMLS #2801 | Equal Housing Lender.